Boeing Sees Boost from Pentagon Deals as Institutional Investors Take Stakes

1ST Source Bank has acquired a new position in shares of The Boeing Company (NYSE:BA) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,319 shares of the aircraft producer's stock, valued at approximately $1,801,000.

Several other institutional investors have also made changes to their positions in BA. Purus Wealth Management LLC increased its stake in Boeing by 3.6% in the fourth quarter and now owns 1,177 shares worth $256,000. XML Financial LLC lifted its stake by 0.5% during the same period and now holds 8,905 shares valued at $1,933,000.

The Pentagon has signed framework agreements with Boeing to increase production of components for SM-3 Block IIA and Block IB interceptor missiles. This could provide greater visibility for Boeing's defense business and support incremental revenue, driving the stock higher.